Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1887-05-28
HETTY GREEN'S GRIP.
Confusion in the Plans for ReOr.
gantzing Houston and Texas
Central.
New York Herald.

Mrs. IIetty Green, the woman with ter
rible grip on many millions, which she
wields a. a club, has lifted her arm to strike
a deadly blow.
C.P. Huntington, whose comprehensive
and powerful grasp takes in thousands upon
thousands OF miles OF railroads, from ocean
10 ocean, with branches everywhere, IS the
object Of her attack.
Al Is a giantess against giant.
She wants him either 10 let 20 his hold on
the Houston and Texas Central railroad,
with its splendid land grant rights, or else
pay her grand sum TO leave him to his
purposes.
The facts leading up to the present crisis
may be briefly stated.
HUNTINGToN's SCHEME.
MIR. Huntington some years ago decided
that The Houston and Texas Central rail-
road, which runs through rich country,
and has a land grant OF 1920 acres Tor
every mile Of road constructed, would be
good property TO hold. II would help his
southern Pacific and other less productive
roads out Of their difficulties. SO he went
to work buying up the stock an1 finally cot
control az, il is saId. a COS. OF ABOUT
SO share. But the funded debt OF the
company was very large and TO make the
stock valuable il would have 10 be reduced.
ON January /. 1885, the company deiauted.
and on February %, 1855, in suit brought
by the Southern Development Company,
which l. another name for Huntington and
associates, receivers were appointed ID take
charge OF the road. This suit was brought
for 5000, 600 advanced 10 pay interest, but
on May 20. 1856, II was dismissed, and new
receivers were appointed on the suit OF the
fist-mOrtgage bondholders.
REAR BONDHOLDERs TO THE FRONT.
But Mr.. HUNTINGTON was mol permitted
10 have entirelI his own way. There
were S3,44C, coo oNeener2l mortgage bonds
outstanding, and the owners thereof in
sisted on saving something for themselves.
Finally The best Mr.. Huntington could do
was 10 submit TO an arrangement by which
these bond0Olders would purchase the
properly. They sppoinied the following a.
aCommiitee Of Purchase and Re0rganizt-
ton: Henry Bulge. ~ llallgarten 4 Co.;
William Mertens, OF Won Hoffman 4 Co.:
Thomas J.. Manson, Jr.. OF Charles Head
x Co.. Frederick Taylor, OF Fred
erick TsylOr & Co.; II. X. Pomr0y,
81 POmrOy Brothers; Charles Robinson
Smith. aud William j Qu,nlau, Jr., OF toe
Chemical National Bank. Mrs. lietty
Green owns 100000 Of the bonds. She
agreed that when 81, $50, 900 of the Do1ds
had been deposited with the Farmers Loan
aud Trust Company she would deposit her
million also and leNe the purchase Of tue
property and Reorganization OF the c)mpl.
nv 10 the committee. Sir. Qulnan signed
The agreement for her.
MIS-. GREEN DRAWS BACK.
TYestcrday was the last day for deposltlng
the bonds.
Two million one hundred and twenty
seven thousand dollars were deposited aud
more were on the way from California.
But Mrs. Helty Green did not deposit
hers. On the contrary. she refused 10 20
into the syndicate because she wanted bet
ter tesms. The plsn agreed upon by the
committee was that the general or third
mortgage bonds after foreclosure and sale
were 10 bear per cent. interest, instead OF
o per cent, with debeptures at per cent.
for psstdue coupons; the second mortgage
bonds TO bfsr 9 per cent. Interest, instead
81 :, with like debent:Ires, and the hrst
mortgage bonds, which tall due In 1891, TO
bssf per cent. and be extended Gfiy years.